TransGlobe Energy Q3 Net Rises - Quick Facts

(RTTNews) - TransGlobe Energy Corp. (TGL.TO, TGA), Wednesday reported an increase in net income for the third-quarter, with 6 percent higher oil revenues.

For the three-month period, the company reported net earnings of $16.3 million or $0.22 per share, compared with $11.7 million or $0.16 per share last year. The company said that the results for this quarter included a $1.6 million non-cash unrealized loss on convertible debenture.

Funds flow from operations were $33.4 million or $0.44 per share, compared with $35.3 million or $0.47 per share a year ago. The company said that Funds flow from operations is a measure that represents cash generated from operating activities before changes in non-cash working capital.

Oil revenues were $161.9 million, compared with $152.6 million a year earlier. Oil revenue, net of royalties were up 5 percent to $78.5 million, from prior year's $74.5 million. Third quarter production averaged 18,197 Bopd, the company said.